Fiduciary Trust Co Grows Position in MercadoLibre, Inc. (NASDAQ:MELI)

Fiduciary Trust Co grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 16.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 511 shares of the company’s stock after buying an additional 71 shares during the period. Fiduciary Trust Co’s holdings in MercadoLibre were worth $1,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in MercadoLibre by 205,108.3% in the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after buying an additional 248,181 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of MercadoLibre in the 2nd quarter valued at about $2,913,000. FMR LLC raised its holdings in MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after purchasing an additional 137,564 shares during the period. Manning & Napier Advisors LLC purchased a new position in MercadoLibre during the second quarter worth approximately $121,137,000. Finally, Swedbank AB increased its position in shares of MercadoLibre by 352.8% in the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after buying an additional 73,336 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MELI shares. Raymond James started coverage on MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price on the stock. Morgan Stanley dropped their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Cantor Fitzgerald reduced their price target on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Finally, Susquehanna increased their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,267.67.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,985.17 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The company has a 50-day moving average price of $2,020.96 and a 200 day moving average price of $1,867.64. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The stock has a market cap of $100.64 billion, a P/E ratio of 70.05, a PEG ratio of 1.39 and a beta of 1.61.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.